Trading ideas for 3/08/2011

Trading ideas for 3/08/2011(Wednesday)
Breaking this range will lead a big rally either 5430 or 5525.  Market looks week. 

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FII DERIVATIVES
Index Future	Index Option	Stock Future	Stock Index
-630	+380	-407	+7
FII Cash	-201
DII Cash	+139

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India VIX : 19.15 up by 0.37 points
Call OI : 34249600
Put OI : 35159350
PCR : 1.027
SMR : 18.65

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Intraday support and resistance:

S2	S1	Pivot	R1	R2
5390	5425	5460	5490	5520

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Weekly support and resistance:

S2	S1	Pivot	R1	R2
5300	5392	5548	5636	5796

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• Nifty Open Interest for August stands at 2,09,38,050 up by 8,04,200 with decrease in price (Short Build-up)

• Bank Nifty Open Interest for August stands at 10,13,250 up by 91,225 with decrease in price (Short Build-up)

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For 3/08/11 NF may take support at 5450

Above 5480 NF may rally up to 5525

Below 5430 NF may correct up to 5370

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NIFTY LEVELS

Nifty future's projected high and low for next session is 5490 and 5380 (use this projection with other indicators). Nifty future's immediate support now comes around 5430 zone. If sustains that zone then it will towards 5460 zone. Crossover and sustenance above 5460 will show buying to 5505 level itself. But if cannot sustain above 5430 level it will again retest 5400 and this time below 5400 a real free fall will be seen which may take Nifty future upto 5370 zone.

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OPTION DATA ANALYSIS


As per OI Table 5500, 5600, 5700 and 5800 calls are written while 5300 and 5200 puts are written and some unwinding was seen in 5600 and 5700.
The good thing for bulls is 5400 put was also written and no unwinding was seen in 5500 put. Apart from that small number for bulls all went in favour of bears control and they are using all the chances to increase the short in every rise. break of the above level is needed for further move.

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Expected Bullish Stocks For 3/08/2011: COLPAL, CHAMBLFERT, NAGARFERT, ABB.

Expected Bearish Stocks For 3/08/2011: ASHOKLEY, AUROPHARMA, TTKPRESTIG, TATACHEM, SINTEX.